Sify | 27/06/2020 06:45 PM | Click to read full article
In April, OYO Founder CEO Ritesh Agarwal announced furloughs or temporary leaves of 60-90 days for its employees in the US and select other international markets. The US business is showing positive signs of recovery and the occupancy is now touching 30 per cent levels.
"We knew this crisis was real and could take time. However, the reality is, the impact on our business has been deeper, and the recovery has been slower than what we had anticipated."